Thursday, July 10, 2008

The IRA Blues

I was not a business major. I didn’t even take a math class in college. And, I know zip about investing. So, when my boss pulled me aside a week ago and informed me that I was (finally) eligible for our company’s retirement plan, I was both excited and immediately filled with anxiety.

My father has always told me that investing was the key to my future security – even though he really never pursued it. Even with his do-as-I-say-not-as-I-do advice, I was still STOKED about investing … when I got older. I didn’t think that my pennies earned by summer jobs would allow me to invest. I wish I would have pushed myself to buy something though! We did a stick market exercise in 9th grade that I kicked ass at – I realize it was play money…but I made a freaking 75% return!!! BUT, it was nerve wracking, even with play money. What if I chose wrongly?

Anyway, all those anxieties came back when the boss mentioned the IRA. It’s a SIMPLE IRA since I work for a small company, and that somewhat changes the game. Most everyone at work uses Vanguard…but my dad uses Fidelity. So, this is one choice – the company to go with. ALSO looming is the giant question of what type of portfolio I want to create. I realize at my age that I should go for a little more risk…but that is scary. I am NOT the gambling kind!

Thankfully my friend J offered to talk to me tonight about what I should do. He was a business major and worked at a fairly large bank, so I feel he has a good feel for this stuff. Much better than me anyway.

Sooooo yeah. I have to decide pretty quickly about everything…so I’ll keep you posted.

On another note – only FOUR more days to take my last TWO anatomy tests. Jeepers Creepers - I need to get on that STAT.


Britt said...

Ugh I don't know how you did Anatomy by correspondence. Horrible! I'm taking Statistics and a Sociology class about Women and work (it's getting a little tedious all the Rah Rah women are so awesome and so taken advantage of by men....*sigh*) I'm supposed to be half way through both and I'm so very behind. I got an extension on stats and its my goal to finish Soc on time!

Anonymous said...

Invest in a 401 k and the you can be amazed on how almost 25 percent
will disappear. Put your money in a simple savings account and ride out the recession.